bluebird bio Inc. said in a regulatory filing Tuesday that it expects to price its initial public offering between $14.00 and $16.00 per share. The company is selling 5.00 million shares of common stock.
The underwriters have an option for a period of 30 days to purchase up to 750,000 additional shares of our common stock.
The company said it has applied for listing of its common stock on the Nasdaq Global Market under the symbol "BLUE."
bluebird bio is a clinical-stage biotechnology company focused on transforming the lives of patients with severe genetic and orphan diseases using gene therapy.
The company estimates that the net proceeds from this offering will be approximately $66.8 million, or approximately $77.2 million if the underwriters exercise their option to purchase additional shares in full, at an assumed initial public offering price of $15.00 per share, the midpoint of the price range set forth on the cover of this prospectus, after deducting the estimated underwriting discounts and commissions and estimated offering expenses payable by the company.
The company noted that it intends to use the net proceeds from this offering to fund direct research and development expenses for its Phase II/III clinical study for its Lenti-D product candidate and its Phase I/II clinical studies for its LentiGlobin product candidate.
The company said it plans to use remaining amounts for general and administrative expenses, including personnel-related costs, potential future development programs, early-stage research and development, capital expenditures and working capital and other general corporate purposes.
The company noted that it may also use a portion of the net proceeds to in-license, acquire or invest in complementary gene therapy businesses, technologies, products or assets.
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